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Hi Sai garu, Really appreciate the kind of content you have been doing for improving financial literacy. I am NRI and regularly follow your channel. May I request you to do some videos on how NRI can deal with financial transactions like for instance I want to sell the property in Hyderabad and bring money back to USA. What are the tax implications and tips for reducing taxes etc.
1.Creation of HUF PAN using deed. 2.Elder male is Karta and remaining are copeople (this is for my remembering) and members. 3.We are using mitakahara system so new born person also having right in the properties. 4. We can create a side income business using our income only not with loans and that business income's tax should be taxed separately. I liked Upto 24 Lacs no tax concept
good morning sai garu... summary: 1. Huf (hindu undivided family.) 2.Applicable in mh and Assam. now all over india. 3.can be used for only for family memebrs. 4.while doing business we can use huf. 5Need to pay gst in business after 30% + . Thnaks for the informaion regarding huf. I have a doubt regarding huf that is clarified now after listening your video. is huf is applicable only for business.
@@MoneyPurse team one doubt, HUF is useful only for business/self employed families right? Can I create a HUF with having only salaried income and no other earning family member? I think it won't be useful right?
# Ask money purse As every citizen need to file ITR. Even daily labour. But unfortunately ther is a mith that if file we loose direct benfits from govt like arogya sri, rathu barosa, etc and others. Better clarification required sir.
Dear Sai Gaaru I request you to make an awareness video for individual investors & HUF investors on investing in an IPO on max limits how normal allocation of shares is done. The best method for aspiring investors together with advantages of HUF Vs Individual investing in IPOs to achieve the best results as shares allotment. I remain with my kindest regards PARTHA.
Hi చాలా బాగా వివరించారు HUF గురించి.... ఇందులో నాకు 2doubts ఉన్నాయి అన్నా 1) Govt Employees HUF form చేయవచ్చా? అవును ఐతే process same ఆ? 2) HUF SB account open చేస్తే దానిపై tax benefit పొందలేమ? So HUF SB account వల్ల లాభం ఏం?
How is a salaried person, whose salary is credited after TDS 😮 can transfer money to HUF account and get benefit?? Suppose I am investing in shares, how can I show it in HUF pan to get tax benefit while selling the shares? Please answer these queries or do an extension video of it.
Very informative video Sai garu, but nakoka chinna doubt. Ippudu HUF kinda PAN generate chesukunnaka separate demat account create chesukoni manam andhuloki capital ni petti stock market trading leda investments cheyatcha. Eg. 1Father 2 Sons HUF Pan vatchaka stock market investments cheyatcha. And vatiki income tax exemption theesukovatchaa. It would be very useful information. Thank you.
Can u pls add more point on Demat account with HUF ... can we invest in MF with HUF PAN account ? if so if the HUF accounts holds in all for 5 members of the family including minors ... can we do a SWP every month for 50K with Zero tax ? Pls suggest on this sir
at 15:12 you said - meeru passive income related huf capital ani chupinchagaligithe anaru kada , if I have to start creating HUF today , how do I form a capital under HUF ? Can I show my salary added to HUF capital ? Can I invest in stock market taking money from salary and refer it under the HUF income? Need your guidance in forming capital under HUF . Could you please clarify/ help understand this , please ?
What would be the assets and income source for HUF ? Can the karta transfer any amount to HUF account ? “WHO SHOULD OPT FOR HUF ?” ani unte bagundedi sir. I am still watching the video
@@MoneyPurse I mean to ask “Who can make best use of HUF ?” I am not asking about the eligiblity. For example, i think it doesn’t make sense to form HUF for families without any business !
Hi Sai garu, thank you for another wonderful video. I was thinking to start a HUF a year ago, did my research, and found some clauses around saving tax. The issue is about funding the HUF, if contributions are made by karta or coparceners or any member of HUF then the tax on the earnings from that funds in HUF will be at their individual tax brackets. For example, if I am in 30% tax bracket and I contribute 10 lakhs this year and earn 1 lakh out of the contributed funds then I need to pay 30% tax on 1 lakh. The earnings will be taxed at HUF tax slabs only if the earnings are made from the funds received from inheritance or funds received as gift money to HUF (from non-members). With this context the 10 Lakhs contributed to HUF from my salary will not benefit anything in terms of tax savings. I request you to take a look at this question and help me to correct my understanding. Thanks in advance.
I think if you ge that 24 lakhs as salary, you cant use HUF to reduce your taxes, that need to be paid on that salary of 24 lakhs. Lets see what MP team has to say.
Thank you for super videos. In India most of the companies have clause of dual job and also shouldn't have business partnership. In that case of a HUF started business then how is this going to be interpreted.
Thanks for the wonderful content. In the HUF affidivate DOB of kartha is missing. Recently my affidivate got rejected because of this. Please add DOB and update the document.
Can you do one video on Investor education protection fund for unclaimed shares and dividends and also how to login in iepf5 form. I tried so many times to login in MCA website but failed . Website nodal officers are not responding.
Hi Sai garu, Thanks for explaining HUF in simple terms. However I have few questions and request you to address 1. Can HUF replace WILL to pass on assets to family members? 2. Does trading and MF income come under passive income? 3. Is it mandatory to include all family members or can we select some? 4. Can we add more capital every year , may from our salary savings and do MF investments under HUF? 5. Does equal rights to members limited to the capital declared in HUF or other assets/ wealth of the members? 6. If it includes the wealth of all members, how to manage individual assets/ wealth generated from salary etc separately ? 7. Can HUF replace the requirement of succession certificate/ family member certificate? 8.which ITR to be submitted? Do we need auditing for filing ITR?
1. I dont think HUF can replace WILL, because the participants of HUF have Equal rights of the assets under HUF. Its not customizable I believe. 2. I think you can save a maximum of 10,000 per year (this too is because of 1 lakh exception of equity oriented investments) that is irrespective of the profits from trading and MFs. I am not very sure on this point. 3. I think all eligible family members have equal rights automatically 4. Yes, but I think you need to invest it in tax free bonds first. 5. I think Every participant have equal rights of everything under HUF. 6. Income generated outside of HUF by its participant is taxed as per that particular person’s tax liability. 7. I think HUF cant replace succession/family members certificate completely. 8. Thats decided just the way how an individual chooses his ITR form. NOTE: LETS SEE WHAT MP TEAM HAS TO SAY.
Dear Sai garu, you forgot the clubbing of income in the hands of transferor from the amount invested by him in HUF. Please include that if possible. Even if we invest initial capital in non taxable bonds, initial source is always clubbed in the hands of taxpayer/transferor
@@sastryvajjala1928 I thought once the karta pays tax on this individual income, he can infuse it into HUF at least once, without attracting any further taxes. Please share you thoughts on clubbing of taxes, with an example.
Sai Garu Namasthe. I am Sreenivas a VRS retired person. I have some fds. Mee HUF vedio is very informative. My question is only business untene HUF account open cheyyala leka fds anni kalipi HUF amount ga chesi interest amount ki tax benefit pondhavaccha. Dayachesi thelapandi. Namaskaaramulu.
Good information Sai garu.. HUF deed, current account, Karta, Coparcners, Members. All these are key points. If we had opened any Proprietary concern in the name of Partner (Wife), Can we execute HUF? since Wife would be also part of HUF
Ofcourse ur wife will be a member and u will be a karta and income tax act prakaram husband and wife relative kinda vastaru so mi wife income separate and huf income separate avtundi and huf lo tanu member ayite huf lo tana share tanu individual file chesetappudu add avtundi
Thanks MP team. Father ki HUF Pan card undi. But not use to any business. Unmarried software employee Daughter ki HUF PAN tesukuni Dmat account open chesukoni market lo invest chesukovachha sir
First of all in the above case daughter ki HUF PAN raadu. But you can use your father's HUF PAN and open the demat account and invest if you are comfortable with. Note: Please remember that what ever may be the assets in the name of HUF that will have equal share among your family members. Hope this clarified your question
How many Indian families/parents share equal rights /property to their daughters When they have a son We should accept that we have more gender discrimination over cast.
One of the best video I ever I saw andi, really nice. I want to know can we move assets already bought to move to this HUF newly formed? so that i can save tax? pls guide
Hello Anna, Can you share the income from stocks how to do tax filing and what the tax percentage ? If already salaried employee is Earning 10 LKA above how to filing
My question is about salary class So for salaried class- tax will be deducted from companies as per slabs. HUF is applicable if we have any additional passive income or business. is it correct??
HUF Account - can be created after marriage via deed - only male children’s partners can be added as members to the account - same rights to male and female kids and their kids HUF Execution - Deed, stamp, ID proof submit at PAN centers - will receive HUF PAN and can claim tax
# Ask Money Purse Hi Anna, As you explained it is very good... I have a question regarding, how important it is to keep huf deed even after getting huf pan and what if we lost it. Is there any possibility to get it from PAN centre or do we need to re-create again with the help of lawyer by specifying lost of deed and generate it again?
Wife ki legal ga funds unte maybe yes, you are correct. But husband peru meedha unna funds wife peru meedha ki transfer dhesthe, maybe gift deed raskovali emo. Lekapothe aaa income kuda mee income ki add chesi dani meedha profits kuda mee income la tax file cheyyali anukunta. Nak kuda clear ga clarity ledu. MP team eem antaro chuddam.
Entire new subject. Even though you explained slowly but i didn't get clarity. Capital gains ni huf lo choopinchocha, if yes shall we take extra demat account with mapping to current account. STCG and LTCG only ఉంటే huf business income లో choopinchocha
Home work: There are basically two types of Hindu personal laws exist regarding the succession of assets in India, namely Diyabhaga practiced in Assam and West Bengal, where succession rights for the children come in to force after the demise of the parents., another one being Mitakshara, which is followed in rest of India, where the succession rights come in to force even when the parents are alive. We need to form the HUF deed, to avail the benefits of Taxation. HUF deed usually consists of three major components I.e., Karta-the major decision maker, usually the senior most and bread earner, Coparceners-wife and children and the rest of their children come under -members. There are two major acts came in to force regarding succession of which on 22/06/1994, Maharastra and Tamilnadu enforced act regarding equal succession rights regardless of gender, and on 09/09/2005, the succession act regarding equal succession rights to male and female was enforced for rest of India To create HUF deed, all the basic details of the components of HUF deed and also the base capital along with the stamps should get ready and a Pan in the name of Karta was created to further the Business transactions in Current bank account. As it's a business account, upto 50 percent of business income can be shown as business expenditure and also we can avail tax benefits from the passive income to an extent of more than 24 lakhs. Though they were some cons of HUF deed regarding its flexibility in dissolving deed and having equal rights to all the members, as it's pros overriding the cons, this is the best tax saving plan
Hello Sai garu, 1) What expenses can we show in HUF? Lets say if my income is 10 lakhs and Can I show all the income like food , travel, house hold expenses, medical expenses? 2) can we form a HUF, open a demat account, and buy shares using this account ? and avoid the tax on dividends ? 3) Can you explain the examples in detail? the examples which you told is very crisp. thank you so much
1) @ 16:20 i think he was talking about showing 50% income as expenses under section 44ADA. if I am right we dont need show any bills to show our expenses just mention 50% of the income as expenses. No one will ask what were the expenses. lets see what MP team has to say.
2) i think there wont much use of using demat account under HUF, because Capital gains will be same there also. Its just that you will get another 1 lakh exemption for LTCG. Dividends are taxed as per the tax bracket. lets see what MP team has to say.
Anna nenu tax file chesey anta varaku kuda nah income poledu 😜 but naki eh video lo oka doubt how to get HUF pan card means total family paina vastuna pan card kada andari details pampinchi apply cheyala leka huf ki any another procedure and 2nd doubt vachi ah business start chesey tapudu HUF pan card details tho business start cheyala and already oka vela business untey valaki HUF business kinda change chesuko vacha. Naku use avutadi ani kadu doubt clarify kosam adiga anna.
1. MP team already telegram group lo PDF share chesaru kada, adi chusthe clarity vasthundi emo chudandi. 2. Old business close chesi, fresh business ga start chesinattu papers lo chupisthe yela untundi ? “Aha doubt-u !” Lets see what MP team has to say on this.
Hi Sreenivasulu garu, 1. Video lo clear ga mention chesyam, while applying for HUF PAN you need to share the details and proof of Co-parceners 2. Business start chesey tapudu HUF funds thoni, business start chesinattaithey taxation benefits pondavachu
What about initial funding of Newly formed HUF? Please discuss tax aspects of initial fund. Whether close relatives can give a cheque for initial funding of HUF
